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News Breaks
June 5, 2014
09:06 EDTSNN, MDTMedtronic unlikely to bid for Smith & Nephew, says Wells Fargo
After speaking with Medtronic's (MDT) management, Wells Fargo does not expect the company to bid for Smith & Nephew (SNN). The firm says that Medtronic stated that it was looking for deals based on strategic fit, not financial reasons such as a tax, and the U.K. has not yet asked Medtronic to issue a statement on Smith & Nephew, Wells noted. Additionally, Medtronic stated that it will only enter a new market if it feels it can be a top player, and Smith & Nephew's hip and knee business doesn't;t meet that criteria, Wells wrote.
News For MDT;SNN From The Last 14 Days
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August 25, 2015
09:07 EDTMDTMedtronic to acquire Twelve for $458M
In support of the company's therapy innovation strategy, Medtronic announced that it has signed a definitive agreement to acquire Twelve, a medical device company focused on the development of a transcatheter mitral valve replacement, or TMVR device. Twelve is the twelfth company spun out from the premier medical device incubator The Foundry. Medtronic has agreed to pay up to $458M for Twelve including $408M at closing and $50M on achievement of CE Marking. The cash- and debt-free transaction remains subject to customary closing conditions, and is expected to close in October 2015.
August 21, 2015
09:01 EDTSNNLeerink medical devices analyst holds an analyst/industry conference call
Medical Device Analyst Newitter, along with MEDACorp Specialists Dorance Dillon and Terence Farrell, discuss the Centers for Medicare & Medicaid Services' recently proposed "Comprehensive Care For Joint Replacement Payment Model" and how this model might influence ortho pricing and hospital-vendor relationships on an Analyst/Industry conference call to be held on August 24 at 1 pm.

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